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The Korea Herald

Markets

October 06, 2023
Lotte Biologics doubles down on global contract drugmaker ambitions

Lotte Biologics is gearing up for the construction of three drug manufacturing plants with its recent land purchase in Songdo, Incheon, taking its first step on its decadelong journey to become a global contract development and manufacturing organization. Lotte Biologics said the company signed a ...
October 05, 2023
Questions raised over Taihan Cable’s quality control

South Korean electric wire and cable manufacturer Taihan Cable & Solution has faced challenges of quality control after using impure copper from a new supplier in its production process, industry sources said Wednesday. For approximately three weeks -- from early last month to Sept. 24 -- the comp...
October 05, 2023
Korea to begin experiment with central bank digital currency

South Korean authorities are to chart out a new era of digital payments, carrying out a pilot test for a central bank digital currency, or CBDC, to determine how it could be used as savings and transactions vehicles, according to an announcement made by related authorities on Wednesday. From the f...
October 05, 2023
Samsung Biologics raises annual estimated earnings to W3.6t

Samsung Biologics has raised the full-year earnings estimate in its company guidance again to 3.6 trillion won ($2.6 billion) for this year, up some 20 percent from last year, according to its regulatory filing released on Wednesday. It was the second time this year for Samsung Biologics to increa...
October 05, 2023
Hanwha seeks bigger presence in burgeoning global robotics market

Hanwha Group, South Korea's seventh-largest conglomerate, officially launched its robotics firm Hanwha Robotics on Wednesday, aiming to take the lead in the burgeoning global robotics market. Hanwha Corp./Momentum and Hanwha Hotels & Resorts set up a joint venture for Hanwha Robotics, holding 68 p...
October 05, 2023
Celltrion's Humira biosimilar receives FDA approval for new doses

Celltrion announced Wednesday that the company received approval from the US Food and Drug Administration for two more dose versions of its Humira biosimilar Yuflyma, for 20 and 80 milligrams. Yuflyma is a copycat version of AbbVie’s blockbuster drug Humira, used to treat many inflammatory condit...
October 05, 2023
SK On marks 2nd anniversary with twofold revenue, capacity growth

SK On, South Korea’s leading global EV battery manufacturer, reported Wednesday an approximate twofold rise in quarterly revenue and global battery production capacity over the last two years, as the company marks its second anniversary this month. Having spun off from the energy company SK Innov...
October 05, 2023
1 in 4 foreign workers earn more from unemployment benefits than from work

More than 1 in 4 foreign recipients of unemployment benefits received more last year in unemployment benefits than from the wages they earned before their employment ended, Ministry of Employment and Labor data showed. According to Labor Ministry data submitted to Rep. Kim Sang-hoon of the ruling ...
October 05, 2023
S. Korea mandates flexible pricing in supply deals to protect SMEs

Incorporation of the price adjustment clause, or PAC, in consignment production contracts made between suppliers and subcontractors were mandated starting Wednesday for the first time in South Korea. The PAC, which requires suppliers to adjust the price of materials they provide to subcontractors ...
October 04, 2023
Why retail investors are flocking to state bonds

The South Korean government has decided to allow retail investors to directly invest in state bonds from next year amid the recent fervor for bond investments among individuals. Last month, the government announced its planned revision to the State Bond Act, which aims to roll out bond products so...
October 04, 2023
Samsung chief explores new growth drivers in Middle East

Samsung Electronics Chairman Lee Jae-yong traveled to key locations of Samsung's business in Saudi Arabia, Egypt and Israel during the six-day Chuseok holiday in South Korea to explore new business opportunities in the region, the tech giant said. Lee’s latest trip to the Middle East came nearly ...
October 04, 2023
Korean Air to submit new merger plan to ease antitrust concerns

The high-profile merger between South Korea’s top two air carriers is likely to meet a watershed moment later this month as Korean Air is reportedly scheduled to submit an aggressively revised version of its acquisition proposal for Asiana Airlines to the European Commission to effectively ease th...
October 04, 2023
Household debt to GDP at highest level

South Korea's household debt-to-gross domestic product ratio increased the most last year from 2017 among 26 nations that provided such data, despite financial authorities taking various measures to curb it. According to the International Monetary Fund's Global Debt Database, the ratio reached 108...
October 04, 2023
Hyundai Ioniq 7 may start production in July next year

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
October 04, 2023
SKT’s AI-based veterinary service to debut in Japan

SK Telecom said Tuesday that it has forged a business partnership with Japan’s leading pet insurance company Anicom Holdings, as it eyes global expansion with X Caliber, its flagship artificial intelligence-based medical service for pets. The Tokyo-based pet insurance company owns a top market sh...

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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Company Registration No. 104-81-06004 |Mail-Order Business Registration 2016 - Seoul Yongsan - 00590 |Business info |Gov’t registration No. Seoul 아04099